Users spent over $1B on AI apps in 2024
What's the story
Global consumer spending on apps hit a whopping $150 billion in 2024, a 13% increase from the previous year.
The growth was largely fueled by the growing demand for generative artificial intelligence (AI) apps.
According to Sensor Tower's annual "State of Mobile" report, consumer spending on AI apps like ChatGPT, Gemini, and ByteDance's Doubao saw a massive 200%+ increase.
Growth trajectory
AI app spending nears $1.1 billion
The report emphasized that consumer spending on AI apps came close to $1.1 billion in 2024.
If the growth continues at this pace, AI apps could easily make their way into the top 10 categories by consumer spending in a year.
The launch of new AI models such as OpenAI's GPT-4o last summer also played a role in driving app revenue at times during the year.
Usage statistics
Consumers spent 7.7 billion hours on AI apps
The demand for AI apps stayed strong throughout 2024, with consumers spending nearly 7.7 billion hours on these apps.
Further, apps with "AI" in their description were downloaded an astounding 17 billion times over the year.
The numbers indicate a sustained and growing interest in AI apps among consumers around the world.
Information
ChatGPT surpasses Disney+, YouTube Music in active users
ChatGPT, the AI app, reached a major milestone by garnering 50 million monthly active users. The growth rate surpassed that of other popular platforms like Temu, Disney+, and YouTube Music. The feat further highlights the growing consumer interest in apps with AI capabilities.
Market trends
Other app categories also witnessed significant growth
In 2024, other app categories like streaming, crypto, e-commerce, and fintech also witnessed major shifts.
Despite a slight dip in engagement, streaming apps grew in terms of revenue and downloads.
Crypto apps such as Binance and Tonkeeper made their way into the top 10 finance apps by downloads while e-commerce platforms Temu and Shein dominated the retail subgenre thanks to expansions in Europe, Latin America, and Asia.